Berkeley's Mathematical Sciences Research Institute is the recipient of the largest cash pledge in its 25-year history -- $10 million from the Simons Foundation, including $5 million to create an endowed professorship.

James H. Simons, a mathematician, philanthropist and one of the world'smost successful hedge fund managers, announced the gift Thursday.

The gift will create a $5 million endowed chair, the Eisenbud Professorship, named for UC Berkeley math Professor David Eisenbud, the institute's director. The fund will support distinguished visiting
professors.

An additional $5 million will start a new fundraising campaign by matching funds raised for the institute's permanent endowment.

Simons, an institute trustee since 1999, is president of Renaissance Technologies Corp., a private investment firm dedicated to the use of mathematical methods.